Lending Small amount of cash to friends

[xRIEx]

Pieman68 said:

He has recently split up with his wife.

Not sure how his pending divorce has affected his finances but he's getting the lot back in February when I get my bonus. If he refuses it will go to his son!

Wait until his divorce is finalised.

[alorotom]

I put something in the Things that annoy you beyond all reason thread a little while ago on this exact matter.

I was asked by a friend who i have known for some 22yrs if i could lend her £3k last december to help pay some bills with her events business on the premise i would get it back with interest (an extra £1k) in 3 installments of 500/500/3000 in Jan/Feb then June.

Hassled incessantly about if/when I was sending the money to the point where I nearly decided against it, then semi-disappeared when I did send it. Turns out the money was for her and her then BF and not for the business and she gave him £1k when he walked out on her, why she would do this I dont know.

Fast forward into the new year and I hear from her sporadically but no mention of money, I wasnt pushed for it so let it run till July when I started to think that just because I wasnt in need of it didnt mean I shouldnt get it back, so started asking questions and was met indignantly about it. She arranged to pay £200 a month on the 28th each month July-November and then the balance of £2k in December, but could no longer offer any interest back - my sweetner now totally gone,

The first payment was made on time, every other I have had to send message after message about and the excuses are rampant. Last month I didnt get the amount till 16th and got an arsey message when I messaged on the 28th asking where the monies were at as I only got the last amount less than 2 wks ago (the fact that it was her delay didnt come into it).

I am still awaiting the 28/11 installment and was assured that it would be in my account yesterday and low and behold it wasnt ... I have never known anyone have such banking issues ... clearly lies.

I am waiting on the payment of the £200 then will press for the £2k lump.

The additional joke though is that she keeps asking for me to go guarantor on an Amigo loan for £10k for her ... she cant afford to pay me £200 a month without me hassling, how on earth does she expect me to believe she will maintain payments on a formal loan!! NOT A CHANCE

Oh and as a final piss take additional she hates her car (knackered little 02 plate nissan micra) and thinks she "deserves to drive and audi" and knows I have my TTRS in the garage that I dont really use and asked if she "could have it" as it was "just wasted not being used" by me, and that she "would look better driving it" than me and also "it would look more professional for her business" ... fking joker, especially when all I used to get from her was £5figure bragging about events she was arranging and creaming money out of - lies lies lies - you want your dream car, buy it yourself!

Are we still friends - definitely not
Am I keeping my cool till its paid - absolutely
Would I ever loan to anyone, ever again - not a chance

[MKnight702]

Simple, unless you put some formal agreement in place, don't look on it as loaning money to a friend, look on it as giving money to a friend. Then re-assess the "friend" classification. If you are still happy then go ahead.

[Morningside]

Two weeks and still no money even after the "Sorry bud, not been well and off sick" even though he has been clearly on holiday with one of the girlfriends and buying expensive stuff.

Had a bit of an argument about this and he said I could wait and pay me up at Christmas like I promised. *shrug* cannot remember that bit..anyhow only a couple of weeks or so for him to pay £400. Is it going to happen? If it F*&*(^!

[TwigtheWonderkid]

If you lend a "friend" any amount up to £50 and you don't get it back, consider it a massive bargain. You'd pay a private detective a lot more than that to find out your friend was actually an untrustworthy tosser.

It's a small price to pay to avoid all the future grief.

[pmanson]

Lend my Sis-in-law and her partner £300 a couple of months ago to help them move out to a new house (eg. whilst their original deposit was being held).

She asked for bank details to return the money etc but no sign yet, however they do have a very expensive puppy.

Not happy... they're coming to ours on Boxing Day. Going to be fun

[Du1point8]

Lent my OH's friend £4k on the proviso that it was coming back in less then 3 months as it was needed to help pay deposit on new property and I could have the old deposit when it came back.

Turns out that old deposit was used to break the lease and leave a month early, so there was no instant money, she said it was a miscommunication on my behalf and I heard it wrong... Since then and threatening to ruin her financially she is paying the interest on the £4k until she can pay off the lump sum.

That was 4 years ago... she has paid £2k in interest (should have been £2.4k but she has missed payments)... Note she has not paid off the loan and never will at this rate, which was suppose to be a maximum of 6 months.

Was one of my OHs best friends, now rarely talks to her and its simply down to this and the fact she borrowed a mutual friends car and crashed it, promised to pay for the repairs, never did... mutual friend died of brain tumor over the course of 4 years, she was asked to repay the money so dying friend could enjoy a little holiday...

After said friend died, this person got the hump when dead friends brother chases up the debt to give to charity and she says she doesnt need it anymore and she needs it more than a charity.

[PositronicRay]

Morningside said:

I sold my old car to my friend that I have known since 1981 and we have always helped each other out. Sold it to him for £750. After 4 months I am still waiting for the remaining £500.

Chased him many times and it's always some excuse or another and then you see him going on long trips to meet some woman or another and showering them with gifts.

Am I pissed off? Yes, I damn well am. It's not really so much the money it's all the bullst and lies.


More surprised as I really thought we were good friends. Never again.

I gave an old car to friend, who was "on his uppers". MOTed but needed some work, the deal was he'd pay for the RFL, he forgot about it. we're still friends 30yrs later, would I do it again? Course I would.

An ex colleague still owes me money, are still friends, are we buggery lying tt.

It just depends really.

[StottyEvo]

How do you not get your money back? I've lent out lots of money over the years and been ducked many times. The most recent was for £2,500 and I noticed said friend ducking me after I called him in the morning, sent a text then called again the evening all with no response. The next day I called him mobile repeatedly, when he wouldn't answer I called his work and asked for him... After a raging bking he paid me my money.

Another recent one I was owed £300, after ducked texts and calls I turned up at his house on a Sunday evening. People want a quiet life, they really really do not want someone calling their work or turning up at their house on a Sunday evening. Make it easier for them to pay the money than not.

I think there isn't a length that I wouldn't go to to get my money back, which kinda works well as a deterrent to not pay me back.

I'm currently owed just shy of £20,000 by friends at the moment.

[markcoznottz]

StottyEvo said:

How do you not get your money back? I've lent out lots of money over the years and been ducked many times. The most recent was for £2,500 and I noticed said friend ducking me after I called him in the morning, sent a text then called again the evening all with no response. The next day I called him mobile repeatedly, when he wouldn't answer I called his work and asked for him... After a raging bking he paid me my money.

Another recent one I was owed £300, after ducked texts and calls I turned up at his house on a Sunday evening. People want a quiet life, they really really do not want someone calling their work or turning up at their house on a Sunday evening. Make it easier for them to pay the money than not.

I think there isn't a length that I wouldn't go to to get my money back, which kinda works well as a deterrent to not pay me back.

I'm currently owed just shy of £20,000 by friends at the moment.

Why so much?

[Hainey]

StottyEvo said:

How do you not get your money back? I've lent out lots of money over the years and been ducked many times. The most recent was for £2,500 and I noticed said friend ducking me after I called him in the morning, sent a text then called again the evening all with no response. The next day I called him mobile repeatedly, when he wouldn't answer I called his work and asked for him... After a raging bking he paid me my money.

Another recent one I was owed £300, after ducked texts and calls I turned up at his house on a Sunday evening. People want a quiet life, they really really do not want someone calling their work or turning up at their house on a Sunday evening. Make it easier for them to pay the money than not.

I think there isn't a length that I wouldn't go to to get my money back, which kinda works well as a deterrent to not pay me back.

I'm currently owed just shy of £20,000 by friends at the moment.

Then there is an unkind name usually given to people like you by people like them.

Ask yourself this; if you didn't have the funds to 'lend' them, would they still want you as a friend?

[elanfan]

alorotom said:

I put something in the Things that annoy you beyond all reason thread a little while ago on this exact matter.

I was asked by a friend who i have known for some 22yrs if i could lend her £3k last december to help pay some bills with her events business on the premise i would get it back with interest (an extra £1k) in 3 installments of 500/500/3000 in Jan/Feb then June.

Hassled incessantly about if/when I was sending the money to the point where I nearly decided against it, then semi-disappeared when I did send it. Turns out the money was for her and her then BF and not for the business and she gave him £1k when he walked out on her, why she would do this I dont know.

Fast forward into the new year and I hear from her sporadically but no mention of money, I wasnt pushed for it so let it run till July when I started to think that just because I wasnt in need of it didnt mean I shouldnt get it back, so started asking questions and was met indignantly about it. She arranged to pay £200 a month on the 28th each month July-November and then the balance of £2k in December, but could no longer offer any interest back - my sweetner now totally gone,

The first payment was made on time, every other I have had to send message after message about and the excuses are rampant. Last month I didnt get the amount till 16th and got an arsey message when I messaged on the 28th asking where the monies were at as I only got the last amount less than 2 wks ago (the fact that it was her delay didnt come into it).

I am still awaiting the 28/11 installment and was assured that it would be in my account yesterday and low and behold it wasnt ... I have never known anyone have such banking issues ... clearly lies.

I am waiting on the payment of the £200 then will press for the £2k lump.

The additional joke though is that she keeps asking for me to go guarantor on an Amigo loan for £10k for her ... she cant afford to pay me £200 a month without me hassling, how on earth does she expect me to believe she will maintain payments on a formal loan!! NOT A CHANCE

Oh and as a final piss take additional she hates her car (knackered little 02 plate nissan micra) and thinks she "deserves to drive and audi" and knows I have my TTRS in the garage that I dont really use and asked if she "could have it" as it was "just wasted not being used" by me, and that she "would look better driving it" than me and also "it would look more professional for her business" ... fking joker, especially when all I used to get from her was £5figure bragging about events she was arranging and creaming money out of - lies lies lies - you want your dream car, buy it yourself!

Are we still friends - definitely not
Am I keeping my cool till its paid - absolutely
Would I ever loan to anyone, ever again - not a chance

Here's a suggestion for you ... Tell her you'll go guarantor for her loan but you need to be able to trust that she keeps her word. So you want the original agreement paid up in full before you'll sign anything. Bet you she will rip your arm off. Once money safely in the bank say you've changed your mind!

Please tell us the look on her face if this works.

[MikeLowry]

Du1point8 said:

Lent my OH's friend £4k on the proviso that it was coming back in less then 3 months as it was needed to help pay deposit on new property and I could have the old deposit when it came back.

Turns out that old deposit was used to break the lease and leave a month early, so there was no instant money, she said it was a miscommunication on my behalf and I heard it wrong... Since then and threatening to ruin her financially she is paying the interest on the £4k until she can pay off the lump sum.

That was 4 years ago... she has paid £2k in interest (should have been £2.4k but she has missed payments)... Note she has not paid off the loan and never will at this rate, which was suppose to be a maximum of 6 months.

Was one of my OHs best friends, now rarely talks to her and its simply down to this and the fact she borrowed a mutual friends car and crashed it, promised to pay for the repairs, never did... mutual friend died of brain tumor over the course of 4 years, she was asked to repay the money so dying friend could enjoy a little holiday...

After said friend died, this person got the hump when dead friends brother chases up the debt to give to charity and she says she doesnt need it anymore and she needs it more than a charity.

What a disgusting excuse of a human being.

[7795]

Two things my Dad told me:

- The price of shares can go down as well as plummet
- If you want to know who your true friends are, lend them money

Good advice, especially the lending money to friends. I have done it before, rarely does it end well and I won't do it again unless it's a dire situation.

The 30k I lent to a friend so he could get his kitchen extension done and repay me when he remortgaged within 6 months was NOT a dire circumstance. Of course, when the remortgage was completed "they" needed a loft extension before they sold the house and me "politely asking for my £30k back, interest free, was going to cause him no end of hassle with his wife as she was the one pushing him to keep the loan until LC built and house sold.

I payed him a visit one weekday and only his wife was in. She was aghast when I told her what had been going on and immediately logged on and sent the £30k back to my account. I sneaked a little look, balance of £105k+...!!!!!

This is someone I had known for 20+ years, solicitor and bought house for £500k in 1998!

Friendship dissolved; Dad, I should've listened.

Edited by 7795 on Friday 2nd December 14:07

[alorotom]

elanfan said:

Here's a suggestion for you ... Tell her you'll go guarantor for her loan but you need to be able to trust that she keeps her word. So you want the original agreement paid up in full before you'll sign anything. Bet you she will rip your arm off. Once money safely in the bank say you've changed your mind!

Please tell us the look on her face if this works.

Good idea actually, she is due to contact me later today so will float the idea then

[StottyEvo]

markcoznottz said:

StottyEvo said:

How do you not get your money back? I've lent out lots of money over the years and been ducked many times. The most recent was for £2,500 and I noticed said friend ducking me after I called him in the morning, sent a text then called again the evening all with no response. The next day I called him mobile repeatedly, when he wouldn't answer I called his work and asked for him... After a raging bking he paid me my money.

Another recent one I was owed £300, after ducked texts and calls I turned up at his house on a Sunday evening. People want a quiet life, they really really do not want someone calling their work or turning up at their house on a Sunday evening. Make it easier for them to pay the money than not.

I think there isn't a length that I wouldn't go to to get my money back, which kinda works well as a deterrent to not pay me back.

I'm currently owed just shy of £20,000 by friends at the moment.

Why so much?

My friend found a Red Evo 9 MR 360 in mint condition with 53,000 on the clock for £19,000 in Northern Ireland. I could either be the biggest on earth and buy it myself or lend him the money and book a ferry...

Rest of it is £350 to a life long friend who was made redundant, £200 to another friend who is in financial hardships.

[StottyEvo]

alorotom said:

elanfan said:

Here's a suggestion for you ... Tell her you'll go guarantor for her loan but you need to be able to trust that she keeps her word. So you want the original agreement paid up in full before you'll sign anything. Bet you she will rip your arm off. Once money safely in the bank say you've changed your mind!

Please tell us the look on her face if this works.

Good idea actually, she is due to contact me later today so will float the idea then

Please do this

[elanfan]

Well Motorola how did it go?

[alorotom]

elanfan said:

Well Motorola how did it go?

She never contacted me yesterday (shock horror) but after putting a note under her car wipers first thing this morning got this months instalment transferred to me about 1030ish today

I have full intentions of mentioning it when I do speak to her though

[Du1point8]

StottyEvo said:

markcoznottz said:

StottyEvo said:

How do you not get your money back? I've lent out lots of money over the years and been ducked many times. The most recent was for £2,500 and I noticed said friend ducking me after I called him in the morning, sent a text then called again the evening all with no response. The next day I called him mobile repeatedly, when he wouldn't answer I called his work and asked for him... After a raging bking he paid me my money.

Another recent one I was owed £300, after ducked texts and calls I turned up at his house on a Sunday evening. People want a quiet life, they really really do not want someone calling their work or turning up at their house on a Sunday evening. Make it easier for them to pay the money than not.

I think there isn't a length that I wouldn't go to to get my money back, which kinda works well as a deterrent to not pay me back.

I'm currently owed just shy of £20,000 by friends at the moment.

Why so much?

My friend found a Red Evo 9 MR 360 in mint condition with 53,000 on the clock for £19,000 in Northern Ireland. I could either be the biggest on earth and buy it myself or lend him the money and book a ferry...

Rest of it is £350 to a life long friend who was made redundant, £200 to another friend who is in financial hardships.

You lent the full asking price of a Evo 9?

I dont understand cause unless he got it for circa £15k its floating around that price anyway:

http://www.pistonheads.com/classifieds/used-cars/m...

So even if you take in the fact its got more miles and NI, I thought it was the going rate, so you bought him a car instead of him getting a loan?